Genovate Increases Footprint in India with 5 New Offices Heralding a Combined Total of 12

PRZOOM - /newswire/ -
Singapore, Singapore, 2007/08/10 - Genovate Solutions Pte Ltd of Singapore, a provider of business IT solutions today announced the establishment of five new offices in India, increasing the company's total presence to 12. The new offices will officially be opened within the next 90 days.

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"Revenue from International Operations are expected to contribute up to 70 to 80% of Genovate's total annual Revenues, 40% of this from the Indian market alone." commented Mr. J. Anton Ravindran, CEO and Co-Founder of Genovate Solutions

To support the growing market demand for business solutions in India, these new offices will be established in Hyderabad, Thane, Bangalore, Baroda and Lucknow, to further increase Genovate's ability to provide better information technology solutions, sales of products and services, information technology training and education, as well as consulting and implementation services in respect thereof.

Commenting on the investment Mr. J. Anton Ravindran, CEO and Co-Founder of Genovate Solutions, he cites, "The recently reported statistics from a NASSCOM-McKinsey report forecasted that annual revenue projections for India's IT industry in 2008 are expected to reach US$ 87 billion and the market openings that are emerging across four broad sectors are IT services, software products, IT enabled services and e-businesses. In addition, over the next five years, the enterprise resource planning (ERP) market in India is expected to reach US$ 341 million, according to International Data Corporation (IDC). Of this, the SME potential in India for the enterprise-class is projected to be US$ 160 million — 47 per cent of the overall market." And he added that, "As India continues to require more reliable and responsive IT solutions and services, Genovate will be investing nearly SGD4 Million to facilitate the expansion of our new offices to meet the growing demand. We have the in-country experience and proven supplier status in India to support the growth predicted by global independent research firms and our partners," said Mr. Anton Ravindran.

"Revenue from International Operations expected to contribute up to 70 to 80% of Genovate's total annual Revenues, 40% of this from the Indian market alone." commented Mr. Anton Ravindran

Genovate has the honour of being one of Asia's largest authorized SAP-training partners since 2000, with the distinction of having trained around 8000 consultants for some major corporate clients such as Tata Power, Tata Technologies, BPCL, Johnson & Johnson, Heinz, Infosys, Colgate Palmolive, Wipro, Bayer India and Cap Gemini.

Establishing new offices in India, demonstrates a deeper commitment from Genovate to steer its focus into India's growing business markets, where the new areas of opportunities are abundant and there is no lack in requirements for Singapore's services. Mr. Ravindran said "The commencement of our new local offices in India is our direct response to the demand from our customers. This is just the next step in what we expect will be a swift and exciting progression for Genovate."

Currently, Genovate already has training centres located in Mumbai, and operations located in Pune, Ahmedabad, Cochin, Trichi, Mangalore and Manipul. The impending new Indian offices will be fully functional in SAP-training, marketing, sales, operations, customer and technical support.

Mr. Anton Ravindran explained that e-learning is an additional mode of training offered by Genovate for its customers. "We are already offering e-learning at our new centres in Mangalore, Trichi and Pune, we hope to do the same at our other upcoming centres. e-learning unlike instructor-led, is flexible and comes with a host of benefits," He said, "In order to better support the growing customer base, since India is fast growing in market share in business solutions in Asia for Genovate, there is a need for us to set up fully functional new offices that will fulfil the needs of our local customers," said Mr. Anton Ravindran.

Genovate sees this further expansion into the India market as an integral part of the regional strategy for the business solution industry and the company as a whole. It is currently recruiting highly qualified and capable regional and local senior executives to fill the roles of sales, management, training and implementation positions.

Mr. Anton Ravindran continued, "We are positive that the culmination of our plans to open new offices in India will lead to further intensified business activity that taps on the rising potential of the India market. We look forward to building on this opportunity as we expand our operations in the Asian region. The goal of becoming the premier business solutions provider within the industry in the region is exciting, but will be demanding due to the pace the industry sets for us. We look forward to the challenge."

About Genovate
Genovate (genovate.com) operates in 6 countries and several cities in Asia. It is an award winning company and a leader in IT solutions, training services and product development consultancy. Genovate's products have continuously been featured in the media and have received several industry accolades. In 2006, Genovate won the Enterprise 50 award (An Accenture, Business Times and Singapore government award) as one of the top 20 privately held Singapore companies, among all business sectors and the only software company. Genovate is also the largest SAP training provider in Asia Pacific and also focuses and providing enterprising and innovative solutions such as InfoPak, ezGEMS, ezHR, ezPay, ezHealth and Vlearn.

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